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The Monetary Policy of Neoxian

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neoxian
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last month6 min read

BIG FAT DISCLAIMER

My Neoxian Silver and Miner tokens are just digital pieces of fluff, and may never be worth anything. Be very cautious in purchasing any tokens, including mine.

Neoxian Silver (neoxag)

  • Current Supply: 1,903,006
  • Inflation: 5%: 2.5% Proof of Brain, 2.5% Mining
  • Inflation reduces by 0.5% each year
"reduction_every_n_block": 10512000,
"reduction_percentage": 0.5,

For the first time in my life, I'm finding myself in charge of an actual currency (sort of). I want to do a good job and try to make sure it has value. I named it after shining silver because I want it to be free flowing, but still have some value, and not become worthless.

All air drops are over (narrow distribution!)

As of this writing, all the neoxag have been airdropped. Unlike for Pal or Steemleo, the neoxag airdrop was only given to a relatively small group of people, about 40 people perhaps, nearly all of them are regulars/semi-regulars in my City of Neoxian discord, and/or a few holders of my Neox gold token.

I like this sort of distribution because most of those receiving my coins are fiercely loyal and will stake the coins, and dumping should hopefully be minimal.

I love Pal, but I think many of those that received Palcoin didn't give a shit and dumped it immediately.

Relatively rare

Neoxag: 1.9 million coins

Leo: 4.354 million coins
Pal: 15.223 million coins
weedcash: 470,807 coins

As you can see, my neoxag is much more rare then the Leo coin and Pal coins, weedcash is the most rare though, perhaps stock up on weed too!

I will avoid the "cheat" button

cheat

My goal is to avoid hitting the Cheat button (the Issue button). All the airdrops are done, so there is no reason for me to print more silver into existence. New neoxag should only be created by the Proof of Brain and mining inflation.

Exceptions:

  • Might need to create a powerful flagging account. This would be an account, powered up with 1 million neoxag and would only be used for downvoting bad posts. The power would be locked into this account and would never touch the market.
  • There could be some technical or blockchain glitch that would require printing more neoxag (can't imagine what this would be.)

I have to work hard for my own currency

Because I'm not pressing the "cheat" button, this means I need to work to earn my own neoxag. I need to post, and curate. I have six miners and if I want more, I'll have to buy them from someone else.

I delegate 20k steem to the "neoxiancityvb", our vote bot, to earn some neoxag.

Let that sink in, I'm delegating 20k to my own vote bot, which I could be using to make real money instead, but I'm earning neoxag, which in theory I could press "Issue" to create.

Not to mention that I have buy orders for both neoxag and the miners.

Sinks

In order for a currency to have value, it needs "sinks" or things you can spend the currency on. So far we have:

  • Staking it for 50% curation, more powerful votes and better visibility of votes and comments (the usual stuff)
  • Burn it to make your posts visible in trending
  • Spend it to receive a vote from our vote bid bot.
  • Hopefully more to come..

Also, the currency will have value if the forum has value, so..we need to do all the usual activities, such as curating good posts and comments, flagging bad ones, etc.

My city peeps and I are putting our heads together to figure out any more sinks for the currency, perhaps some fun gambling games in the discord. We'll see.

The Neoxian Silver Miner (neoxagm)

The neoxian silver miner token (neoxagm) is the mining token of my Neoxian Silver. Half of the 5% per year inflation, or 2.5% goes to the miners.


(pic from https://g.foolcdn.com)

Didn't know what I was doing at first.

I'll freely admit I didn't know what I was doing at first. I created a single miner for myself and staked it. Then all of a sudden, the Steem-Engine guys turned on mining, and I earning the entire 2.5% for a few hours..oops. I didn't want to be accused of "ninja-mining" and people chomping at the bit to buy, so chucked 5 miners on the market for 50 steem each. I honestly thought was a high price and that they wouldn't sell.

I was sure wrong about that. Those five were sold pretty quickly and I added another five at 52 steem, then five at 54 steem. I did that until about 66. When those sold, I threw down the gauntlet and placed a single miner at 100 steem.

Yep, that sold too! After that I've been adding only one new miner at plus 10 steem of the previous price, 100, then 110, 120, etc.

Also I sold about 7 miners under-the-table, off market to people who were begging me to buy some.

The current plan for miners

Yes I have a plan now. It's simple enough.

  • The intent is to make my silver miners very rare and hard to come by.
  • I did a small miner drop to my city, about 13.9 miners total. I ended up with six.
  • Two miners will be auctioned in my Discord next week on Sunday.
  • One miner will be given during the Megagiveaway that will happen when bitcoin reaches 20k.
  • I will drop new miners for sale at a price that is plus 10 steem from the previous miner. Only one miner at a time at each price point.
  • I will not sell or give away any more miners, off the market. (So please don't beg me guys.)
  • I have no plans to create any miners outside of this scheme.

Simple enough huh?

Current miner status

As of this evening, July 15th, 2019.

  • Current price is 480 steem
  • Current Supply: 105
  • Current Market:
| ACCOUNT | PRICE | QUANTITY | TOTAL |
| ------- | ----- | -------- | ----- |
| neoxian | 480   | 1        | 480   |
| neoxian | 490   | 1        | 490   |
| neoxian | 500   | 1        | 500   |
  • As I stated above, I'll drop one miner at 510, then 520 etc as they sell.

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